If you own a free standing home in North Richmond, NSW 2754, you're probably curious about what your neighbours are paying for home insurance — and whether your own premium stacks up. This analysis breaks down a real home and contents insurance quote for a four-bedroom, five-bathroom property in the suburb, comparing it against local, state, and national benchmarks to help you understand exactly what you're getting and whether there's room to do better.
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Is This Quote Fair?
The annual premium for this property came in at $1,748 per year (or $172/month), covering both building (sum insured: $1,052,000) and contents ($50,000). Our pricing model rates this quote as CHEAP — below average for the area.
To put that in perspective:
- The suburb average for North Richmond is $3,203/yr
- The suburb median sits at $2,862/yr
- Even the 25th percentile (the cheapest quarter of quotes in the area) is $1,974/yr
That means this premium is below the cheapest quartile of quotes we've seen in North Richmond — a genuinely strong result. For a newly built home with above-average fittings, a pool, solar panels, and ducted climate control, landing under $1,750 a year is impressive.
The building excess is set at $3,000 and the contents excess at $1,000, which are on the higher end. Accepting a higher excess is one of the most common ways to reduce your upfront premium, so that trade-off is worth keeping in mind. If you ever need to make a claim, you'll be covering more out of pocket before the insurer steps in.
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How North Richmond Compares
North Richmond sits within the Hawkesbury local government area, and that context matters significantly when assessing insurance costs. Check out the North Richmond suburb insurance stats for a full breakdown.
Here's how the numbers line up across different benchmarks:
| Benchmark | Annual Premium |
|---|---|
| This Quote | $1,748 |
| Suburb 25th Percentile | $1,974 |
| Suburb Median | $2,862 |
| Suburb Average | $3,203 |
| Suburb 75th Percentile | $3,687 |
| LGA (Hawkesbury) Average | $4,423 |
| NSW Average | $3,801 |
| National Average | $2,965 |
A few things stand out here. First, the Hawkesbury LGA average of $4,423/yr is notably higher than both the NSW and national averages — a reflection of the region's well-documented flood risk along the Hawkesbury River corridor. Insurers price this risk into their premiums, which is why many homeowners in the broader area face elevated costs.
Second, NSW as a whole ($3,801/yr average) sits well above the national average of $2,965/yr, reflecting the combined pressures of bushfire risk, storm exposure, and high property values across the state. You can explore NSW-wide insurance data here.
Against all of these benchmarks, this quote at $1,748 looks like excellent value — saving the homeowner over $1,400 compared to the suburb average alone.
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Property Features That Affect Your Premium
Several characteristics of this property are worth unpacking, as they each play a role in how insurers calculate risk and replacement cost.
Newly built (2025): Brand-new homes are generally viewed favourably by insurers. Modern construction must comply with current building codes, which typically means better structural integrity, updated electrical and plumbing systems, and improved fire and weather resistance. This can translate directly into lower premiums.
Brick veneer walls with a Colorbond steel roof: Brick veneer is one of the most common and insurer-friendly wall types in Australia. It's durable, fire-resistant, and relatively straightforward to repair or rebuild. Colorbond steel roofing is similarly well-regarded — it's lightweight, long-lasting, and performs well in both heat and heavy rain. This combination is about as standard and low-risk as it gets for Australian construction.
Slab foundation with tiled flooring: Concrete slab foundations are sturdy and don't carry the same subsidence or termite risks associated with timber stumps. Tiled flooring is also a practical, durable choice that holds its value well and is easy to replace if damaged.
Above-average fittings: Higher-quality fixtures and finishes increase the cost to rebuild or repair, which is reflected in the $1,052,000 building sum insured. Getting this figure right is critical — underinsuring a premium-finish home is a common and costly mistake.
Swimming pool: Pools add value to a property but also introduce liability and repair considerations. Most insurers include pool structures in building cover, but it's worth confirming exactly what's included in your policy.
Solar panels: Solar systems are increasingly common on Australian homes, and most insurers now include them under building cover. However, it's worth checking whether your policy covers the panels for accidental damage, storm damage, and power surge — not all policies treat them equally.
Ducted climate control: Ducted systems are an expensive asset to replace and are generally covered under building insurance. Again, confirming the specifics of your policy is worthwhile given the replacement cost involved.
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Tips for Homeowners in North Richmond
1. Review your flood cover carefully. The Hawkesbury region has a well-known history of flooding. Standard home insurance policies in Australia often distinguish between "flood" (rising water from a river or lake) and "storm surge" or "rainwater runoff." Make sure your policy explicitly includes flood cover — don't assume it does.
2. Don't underinsure your new build. With above-average fittings and a 2025 construction, the cost to rebuild this home is substantial. The $1,052,000 sum insured should reflect current construction costs in the area, including demolition, professional fees, and materials. Revisit this figure annually, as building costs in NSW have risen sharply in recent years.
3. Understand your excess trade-off. The $3,000 building excess on this policy is high. While it helps keep the premium down, it means you'll need to cover the first $3,000 of any building claim yourself. Consider whether you'd be comfortable with that figure in the event of a significant weather event or accident.
4. Compare quotes regularly. Insurance markets shift, and the cheapest insurer this year may not be the best value next year. Given that this quote already sits below the suburb's 25th percentile, it's a strong result — but it's still worth running a comparison at renewal to make sure you're not leaving money on the table.
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Ready to Compare Your Own Quote?
Whether you're a new homeowner in North Richmond or coming up for renewal, it pays to see what the market looks like before you commit. Get a home insurance quote at CoverClub and compare your premium against real data from your suburb, your LGA, and across Australia. It takes minutes and could save you hundreds.